Truth: 7.6 billion capital invested in listed commodity companiesTruth Consultancy
Total capital invested by companies operating in the domestic consumer goods sector increased by 3 per cent to 7.6 billion dirhams at the end of last year, compared to 7.4 billion dirhams by the end of 2016, according to a recent study by Truth Economic & Management Consultancy.
Reda Mosallam, general manager of Truth, said: “The increase in the capital invested in the consumer goods sector, amounting to about 256.4 million dirhams, comes with the support of several key items, foremost of which is the rise in the value of current assets in companies operating in the sector of AED 343.8 million to reach 3.6 billion By the end of last year, an increase of 11% compared to about 3.2 billion dirhams by the end of 2016.”
The value of non-current assets (fixed assets) reached AED 4 billion at the end of last year, down AED 87.3 million compared to AED 4.1 billion at the end of 2016. The current liabilities of the companies increased by AED 465.2 million At the end of 2017 compared to the fiscal year 2016, where it was 1.6 billion dirhams and rose by 29% to 2 billion dirhams due to the increase in accounts payable during 2017.
Consumer goods companies posted total revenues of AED 4.6 billion at the end of 2016, up AED 106.4 million or 2 per cent to AED 4.7 billion by the end of 2017. Total direct costs increased to 3.2 billion at the end of last year Compared to 3.1% at the end of 2016.
As well as general, administrative and sales expenses increased by the end of 2017 to reach AED 1.2 billion, an increase of AED 98.1 million compared to the end of 2016, which amounted to AED 1.1 billion.
The study included 10 companies listed on the DFM: Dubai Refreshments, United Foods, Gulfa Water, Unicai, Emirates Refreshments and Marka, and 4 companies from the Abu Dhabi Securities Exchange : “Agthia Group”, “Foodco”, “Global Holding” and “Ras Al Khaimah Poultry and Feeding”.